Unclaimed Pension of 60.3 Billion Won Found Its Owner

[Asia Economy Reporter Kim Jin-ho] The Financial Supervisory Service announced on the 20th that through the banking sector's 'Unclaimed Pension Savings and Retirement Pension Recovery' campaign, 42,000 cases amounting to 60.3 billion KRW have been returned to their owners.

The campaign was conducted over two months starting from September. It targeted approximately 168,000 cases of unclaimed pension savings and retirement pensions totaling 696.9 billion KRW. By product, the recovered amounts were 49.5 billion KRW (34,000 cases) for pension savings and 10.8 billion KRW (8,000 cases) for retirement pensions.

The Financial Supervisory Service explained that some pension savings subscribers have reached the pension start date but have not applied to receive their pensions, resulting in unclaimed pensions. They guided that subscribers can check their subscribing company and accumulated amount through the Financial Supervisory Service's 'Integrated Pension Portal.'

For pension savings subscribers to receive their pensions after the pension start date, they must separately apply to the financial company to receive the pension. Additionally, workers from closed or bankrupt businesses can directly claim their retirement pensions from the financial company where their retirement pension is subscribed.